Jordan Passes New Legislation to Light Up Renewable Energy Growth

[Nathanael]

Important news out of Jordan: the Kingdom has passed the Renewable Energy Law. This law sets into a motion a series of clean energy mandates.


The Renewable Energy Law has been specifically designed to increase investment in clean energy sectors. In an effort to encourage investment, the rules around developing clean energy projects have been reduced and streamlined; now companies no longer have to go through a competitive bidding process, and instead can negotiate directly with the Ministry of Energy to establish projects.

Jordan's new Renewable Energy Law is a key component to the country's National Energy Strategy which calls for 7% of the Kingdom's energy to come from renewable sources by 2015, and 10% by 2020. Currently, Jordan imports 96% of its energy at a cost of 20% of its GDP.

Source: http://www.energyboom.com/policy/jordan-passes-new-legislation-light-up-renewable-energy-growth